Vusi Thembekwayo and his estranged wife, Palesa Mahlolo, are at each other’s throats over the sale of their R4-million unoccupied land in the exclusive neighborhood of Steyn City, north of Johannesburg.
Thembekwayo hauled Mahlolo to the Joburg High Court after she reportedly refused to sign an offer to sell the home for R3.6 million to a potential buyer.
The house, which they purchased for investment purposes in January 2017 when they were still happily married, is on the verge of being repossessed by FNB because the financially troubled businessman has been unable to make his monthly payments.
Thembekwayo and Mahlolo, who wed in community of property in April 2020, are going through the divorce process after she accused him of assaulting her at their Fourways marital home a few years ago.
He denied assaulting her and claimed that she was an addict.
Thembkwayo stated in court documents that he and Mahlolo purchased the unoccupied land as an investment and that FNB was the bondholder.
According to him, despite their best efforts, the property was not developed. According to him, a real estate agent inquired about the house in May 2020, when the couple’s union was collapsing.
“However, Palesa paid no attention to my requests to sell the property. I made at least three attempts to modify the debt with the first respondent beginning as early as 2021. The impact of Covid on my finances and having to maintain two families had a negative influence on my income, according to the papers.
He stated that Mahlolo was aware of his financial woes, however she did not attend the party to approve to the debt restructure. In October of last year, he added, FNB initiated legal actions against them to seize and sell the property.
He stated that on November 4, Mahlolo sent him an email asking why the property was for sale and if it was due to non-payment.
“I met with Palesa and we agreed to list the property for sale. This deal was reached when I persuaded her that we would lose money if the second respondent executed on the property.
“The real estate agent attempted to communicate with Palesa in vain. At every point, I have followed up with Palesa, primarily via telephone, who has promised to contact me or sign, but she has never done so.
According to him, the offer expired due to Mahlolo’s delay in signing the purchase agreement.
“However, I have not given up on pursuing the sale because it would benefit the household as a whole; the estate agent said she would rewrite the agreement if Mahlolo signed the offer to purchase0.”
He stated that on January 9, he received a letter from FNB informing him that legal action had been taken against him and Mahlolo for the outstanding arrears and that the property was being declared executable.
He stated that they will earn a profit on the sale because they received an offer of R3.6 million while the bank intends to collect approximately R1.3 million from them.
“Therefore, it is evident that the profit on this transaction would be about and at a minimum R1.285 million, excluding any commission expenses. The money would go a long way toward reducing whatever hardship we feel as a result of Palesa’s declaration that she does not work and requires continuous income, according to the papers.
Thembekwayo did not respond to written inquiries, and repeated attempts to contact him through cell phone were unsuccessful.
»Thembekwayo, wife in quarrel over R4m property«